Mixed-Use Building with
For Sale
$325,000
1135 STATE ROUTE 295, East Chatham, NY 12060
Street-facing commercial space is paired with an upstairs three-bedroom residence.
Property Size3,000 SF
Price / SF$108.33
Days on Market204
Property Features for 1135 STATE ROUTE 295
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Mixed Use
Occupancy
100%
Financials
Gross Income
$34,200
Average Monthly Rent
$1,750
Site & Location
Frontage
50 ft
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
3BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,672
Amenities
storage rooms
walkout to rear yard
garage
3
Paved Driveway.
0.14000000059604645
Exterior Lighting, Back Yard. In City, State Road, Clear lot.
Building Details
Year Built
1874
Stories
2
Tenancy
Multi
Listing Agency:
(518) 692-6006
Listed By:
Preferred Country Properties
(518) 692-6006
Source:
Xome
Added: Feb 8
Changed: Aug 30
Last Checked: Aug 31 at 12:38PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Preferred Country Properties
Investment Insights
Based on property information with market context.
This mixed-use property combines ground-floor retail space with a residential apartment above. The commercial level includes a 50-by-25-foot open area, a three-quarter bath with shower, two storage rooms, and rear-yard access. Upstairs, the apartment offers a large living, dining, and kitchen area, three bedrooms, and a full bathroom. Total building size is 3,000 square feet.
A detached 1.5-car garage, paved driveway, on-site parking, exterior lighting, and a rear yard are included. The property sits on State Route 295, identified as a main NY-MA travel corridor, with Chatham Village approximately 5 miles away and the Berkshires approximately 8 miles away. I-90 and the Taconic Parkway are also approximately 5 miles from the property.
A detached 1.5-car garage, paved driveway, on-site parking, exterior lighting, and a rear yard are included. The property sits on State Route 295, identified as a main NY-MA travel corridor, with Chatham Village approximately 5 miles away and the Berkshires approximately 8 miles away. I-90 and the Taconic Parkway are also approximately 5 miles from the property.
Key Highlights
- 3,000‑square‑foot mixed‑use building constructed in 1874
- 50‑by‑25‑foot open retail area with three‑quarter bath and shower
- Second‑floor apartment with 3 bedrooms and full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,215
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$564,300
$564.3K
Cap Rate 7%
$403,071
$403.1K
Cap Rate 9%
$313,500
$313.5K
Market Conditions
NOI Build-Up for 3,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$54.0K $18.00/SF
− Vacancy
−$2.7K −$0.90/SF
EGI
$51.3K $17.10/SF
− OpEx
−$23.1K −$7.69/SF
NOI
$28.2K $9.41/SF
Area
Columbia County, NY
Vacancy
5.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$564,300
Cap Rate 7%
$403,071
Cap Rate 9%
$313,500
Alternative Uses
Best Use
Retail
$451.1K
$394.7K – $526.3K
NOI $31,576 @ 7.0% cap · market cap 9.72%
Second Best
Apartment 5plus
$403.1K
$352.7K – $470.3K
NOI $28,215 @ 7.0% cap · market cap 8.68%
Theoretical Best
Office A
$742.2K
$649.4K – $865.9K
NOI $51,955 @ 7.0% cap · market cap 15.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
Explore this area
Business Placement
Demographics for 12060, NY
1,411
Population
987
Households
1.4
Avg Household Size
49
Median Age
55%
College-Educated
98%
High-School Grad
36.0 sq mi
ZIP Area
39
Density / Sq Mi
$102,109
Median Household Income
$50,054
Median Earnings
$2,043
Median Rent
$352,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-facing commercial space is paired with an upstairs three-bedroom residence.
Where is this mixed-use property located?
The property is located at 1135 STATE ROUTE 295 East Chatham, NY.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 3,000‑square‑foot mixed‑use building constructed in 1874; 50‑by‑25‑foot open retail area with three‑quarter bath and shower; Second‑floor apartment with 3 bedrooms and full bathroom
